Adviser at odds with Royal London over guaranteed annuity rate request

Chartered financial planner Darren Cooke's client was under an old Cooperative Insurance Society (CIS) plan, which rebranded to Royal London in 2013, and includes a guaranteed annuity rate (GAR). For his client, Cooke said, the GAR was perfect. The client is single, has no kids and is in reasonable health for a 65-year-old. Red Circle Financial Planning's Cooke put in a request to accept the GAR. However, Cooke said this was where the problems began. The first issue raised was the maturity pack, which was sent out twice, and did not show the correct income due based on the GAR. Royal Lon...